West China Cement expects better profits and revenue in the second half, after a dismal first half.

The cement producer's net profit plunged 64.6 per cent to 148.5 million yuan (HK$181.6 million) in the first half, while revenue dropped 7.2 per cent to 1.59 billion yuan. Net profit was 15 per cent below consensus forecasts, according to a CIMB report by Kevin You and Jeannette Sim.

According to yesterday's Business Post, mainland chemical manufacturer Meilan International Holdings is hoping to become the first company to launch a dual-currency yuan and Hong Kong dollar share offering on the city's stock market.

China Development Bank listed six billion (HK$7.36 billion) worth of yuan-denominated bonds on the Hong Kong stock exchange yesterday, giving investors an opportunity to trade securities with a maturity of up to 20 years.

The so-called dim sum bonds are listed on the Hong Kong stock exchange and also carry maturities of three years, five years and 15 years.

From smaller players to industry leaders, about 230 or 15 per cent of Hong Kong-listed firms have warned of sharply lower interim profits - and even losses - since April and analysts say the worst is yet to come.

Two-thirds of young Hongkongers expect part of their retirement would have to be funded by investments in stocks and bonds.

That proportion was the highest of six East Asian markets surveyed in a study sponsored by insurer Prudential Assurance and conducted by a Washington-based think tank, the Centre for Strategic and International Studies (CSIS).

An unexpected interest rate cut announced by the People's Bank of China on Thursday is almost certain to help a fragile recovery in the mainland's property market, analysts say, as they predict further gains for property stocks in the coming months.

London and Beijing were among the best-performing international property markets in the second quarter, according to IP Global. London's future housing sentiment index is close to a 20-month high, while May was the ninth consecutive month of price increases for prime properties. Beijing saw a 30 per cent month-on-month rise in sales volume in May.